Mr. Meredith, Franklin's business partner, is unable to pay the
remaining one hundred pounds of debt on the printing business.
Two of Franklin's friends, William Coleman and Robert Grace,
offer to help him in repaying the debt himself, but only on the
condition that he will separate himself from Meredith, who has a
reputation as a heavy drinker. The honorable Franklin feels he has
an obligation to Meredith's family and refuses to suggest the
separation. When Franklin finally talks to the younger Meredith
about the debt, Meredith reveals that his father is not happy with
the business. Franklin volunteers to resign, but the younger
Meredith suggests that Franklin buy his father out of the business.
It is decided that Franklin will repay the hundred pounds advanced
by his father, clear the debts of Meredith, pay him an additional
thirty pounds, and give him a new saddle. Thus, the partnership
ends, and the whole business is passed into the capable hands of
Franklin. With the help of his two friends, Franklin clears the
company's debts, and by 1729 Franklin becomes the proprietor of
the whole business.

Notes

In this section, Franklin's integrity is depicted. He refuses to accept
his friends' advice and merely abandon Meredith. He feels honor
bound to fulfill his commitment to his business partner. He stands
by his principles come what may, and never lets anyone suffer on
his account. Knowing fully well that if Mr. Meredith does not pay
the debt it will ruin him, he willingly continues with the business
until the Merediths suggest that he buy them out. Once he owns the
business by himself, he works with the same diligence he has
always displayed to clear the debts incurred by Meredith.